SEC still destroying records illegally, whistleblower says

http://ow.ly/6r8br

Article by David S. Hilzenrath posted on Washington Post, with Bloomberg Business page.

This article touches on an ongoing investigation of the SEC regarding alleged shredding of documents.  New allegations involving the alleged improper disposal of records by the SEC were recently brought by a former SEC employee.

As the article states, "The new allegations are contained in a statement dated Tuesday by Darcy Flynn, a longtime SEC employee involved in managing records for the enforcement division."

The author , "Anne Weismann, chief counsel at the advocacy group Citizens for Responsibility and Ethics in Washington, expressed a similar view. “To say it’s troubling is an understatement,” Weismann said. “If the SEC itself is acting in an illegal way, then we can have no confidence that it is effectively . . . policing the industry it is charged with policing.”

As the article further states, "The SEC should “put a freeze on the current practice of destroying documents after the completion of a formal or informal investigation” until the National Archives, which oversees the preservation of government records, has approved the process, ­Aguirre wrote.

In an Aug. 27, 2010, letter, the SEC told the National Archives and Records Administration that it had instructed its staff to preserve “all MUI (matters under inquiry) records.”"